PGIM Investments launches new ETF offering to address CLO market

Chicago, July 26 – PGIM Investments launched the PGIM AAA CLO ETF (NYSE Arca: PAAA) to give retail investors access to the $1.2 trillion collateralized loan obligation market, according to a press release.

Edwin Wilches is the co-portfolio manager on the ETF. Gabriel Rivera and Connor Byrne are also managing the fund.

The next expense ratio is 0.19%.

The fund will invest predominantly in the senior tranches of CLOs.

PGIM is the Newark, N.J.-based global investment management business of Prudential Financial, Inc.

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